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324 Park Ave: Store + Apts in Downtown Baltimore

324 Park Ave: Store + Apts in Downtown Baltimore

324 Park Ave: Store + Apts in Downtown Baltimore

324, Park Avenue, Downtown, Baltimore, Maryland, 21201, United States

For Sale

$575,000

  • 324 326 Park Ave Front
  • Street Scene Looking South
  • Street Scene Looking North
  • Aerial Row
  • 324 Park Ave front
  • 324 326 Park Ave Front View
  • 1st Flr Showrm
  • 1st Flr Showroom
  • 1st Flr Selling Area
  • 1st Flr Retail
  • 1st Flr Bathroom
  • Basement Storage
  • Basement Improved area
  • 2nd Flr Home Office
  • 2nd Flr Bedroom 2
  • 2nd Flr Bedroom1
  • 2nd Flr Kitchen
  • 2nd Flr Bathroom2
  • 2nd Flr Bathroom1
  • 3rd Flr Washer Dryer
  • 3rd Flr Kitchen
  • 3rd Flr Living Room
  • 3rd Flr Bedroom 2
  • 3rd Flr Bathroom1
  • 3rd Flr Bath2
  • 3rd Flr Bathroom2
  • 2nd Flr Washer Dryer
  • Security System
  • Basement Office
  • Rear Fire Stair
  • Basement Electric Meters
  • Basement Bathroom
  • 324 326 Park Ave Front 1
  • 3rd Flr Furnace
  • 3rd Flr Electric
  • 2nd Flr Electric Panel
  • 2nd Flr and 1st Flr Heating System
  • Roof
1 of 38
324 Park Ave: Store + Apts in Downtown Baltimore

Property ID :

 RH-24924-property

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Units
3
Year Built
1920
Sq Ft.
3528 sq.ft.

Description

Totally renovated and fully leased turn-key cash flow positive mixed-use commercial property in downtown Baltimore.

Property Details

First floor commercial clothing store has been in this location since 2007. Currently on a month-to-month lease gives you the option to continue with this tenant or take over the space for your own business. This store has taken over the basement space, which is fully built-out and improved. The basement could be used as a separate office or continue to include it with the first floor space.

Second floor has 2 bedrooms plus a home-office/3rd bedroom, 2 full bathrooms, and a kitchen with vinyl tile floor, wood cabinets, laminate counter, 30″ stainless steel electric range and refrigerator. Third floor is a two-bedroom, two-bath apartment with hardwood floors in the living areas, ceramic tile bathroom floor. The third floor kitchen has wood cabinets, laminate counters, 30″ electric range, dishwasher, built-in microwave, and refrigerator with ice maker.

Who Pays Which Utilities

The landlord pays for water. Each tenant pays their own gas and electric for their heat, air conditioning, hot water, and electric service. The city picks up the trash, which is included in the property taxes.

About the Location…

Centrally located in Downtown Baltimore City with much activity and development close by. The main branch of the Enoch Pratt Free Library is around the corner. The Archdiocese of Baltimore main offices are around the corner as is the Historic Basilica of the Assumption Church, the first Catholic Cathedral built in the United States. The Baltimore Light Rail and Metro Subway stations are both within 2 blocks. The 300 block of Park Avenue is known as Little China Town, with a number of Chinese restaurants. Three major apartment buildings, Mulberry at Park Apartments at 211 W. Mulberry Street, 500 Park Ave and 520 Park Ave, are located within 1 block.

Investment Summary:

$575,000 Investment
$191,667 per unit
$ 163 per square foot
9.5 Times Gross Annual Rent (GRM)
7.8 Cap Rate
6% Return on Investment in year-one

Call Ben Frederick 410-752-6400 or Will Cannon at 410-961-3331 to schedule your tour.

Features

  • 100% Leased
  • Central Air Conditioning
  • Electric Range
  • In-Unit Laundry
  • Lead Free
  • Well Maintained

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Unless and until there is a written Buyer-Broker Agency Agreement signed with a prospective Buyer, then Ben Frederick Realty, Inc., Ben Frederick Realty, Inc. represents the Seller.  Please click here to download the Maryland Real Estate Commission form “Understanding Whom Real Estate Agents Represent”. 

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